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>>> hello there. welcome to this edition of "newsline." glad you could join us. it's tuesday, september 21st, 11:00 a.m. in tokyo. >>> u.s. vice president joe biden said japan is central to u.s. efforts to improve relations with china. his comment came amid growing tension between china and japan amid the arrest of a chinese trawler captain. >> i would argue strongly there is an emerging relationship that has to be -- we have to get right between the united states and china. but quite frankly, i don't know how that relationship can be made right other than going through tokyo. >> biden also said japanese cooperation was vital in dealing with north korea. >> there is no possibility of us getting a policy correct and being successful in the korean peninsula without japan. >> the riff between china and japan is growing over the arrest of a chinese fishing captain we mentioned just now. for allegedly colliding with japan coast guard ships. the incident has caused a backlash against japan in china. >>> china postponed its invitation to a japanese youth delegation that was to start
surging in july, demand from the u.s. has plummeted a whopping 90%. the firm says it's now under pressure to cut prices. >> translator: some customers say they'll ask for price cuts until the dollar strengthens to a 100-yen level. some already cancelled orders. on average, they ask for a 20% to 25% discount, but the best we can offer is 5%. >> reporter: the company has slashed profit margins in order to offer cheaper products and offset the yen's strength. it has also started accepting more small orders to boost output. in some cases they've even taken orders for one or two pieces. towa's management is increasingly worried. >> translator: if the strong yen continues and affects manufacturers like us, even big competitors may start taking small domestic orders. i'm afraid we might all end up losing in a price war. >> reporter: the soaring yen isn't the only concern for these businesses. subsidies for fuel-efficient vehicles helped boost sales this month. but when they end in september, demand will likely drop. carmakers are already expecting to cut production by around 20% in october. also
of this story. >>> over to the world of business. ines joins us now. >> the yen's appreciation against the dollar continues on the tokyo foreign exchange. the yen dipped tuesday morning. the greenback is changing hands at 83.46-47, while the euro is at 107.40. the dollar yet 43 yen earlier. that came as momentum carried over from earlier markets. many staying on the sidelines as japan's ruling democratic lawmakers prepare to vote for a new party leader later in the day. the result of the vote may accelerate the yen's rise. tokyo stocks moved within a narrow range on tuesday morning as investors waited to see whether the yen strengthens any further. the nikkei end the session at 9,300 on the dot, down 21 ticks. the broader base closing down 21 ticks. investors are shying away from active trading as they wait for results from the democratic election. here's a look at the long-term interesthe ten-year japanese government bond. the hang seng is up 0.3%. the shanghai up 0.6%. and the sse composite up 0.4%. >>> the euro zone's economy is predicted to grow at a rate of 1.7% this year, revise
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